Company Valuation: Nestlé S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 350,518 295,663 252,370 192,539 202,576 203,720 - -
Change - -15.65% -14.64% -23.71% 5.21% 0.57% - -
Enterprise Value (EV) 1 383,097 343,288 301,760 248,544 253,958 254,597 253,264 250,235
Change - -10.39% -12.1% -17.63% 2.18% 0.25% -0.52% -1.2%
P/E 21x 31.3x 23.1x 17.9x 22.4x 20.4x 18x 16.7x
PBR 6.62x 7.04x 7.42x 5.36x 6.17x 5.86x 5.44x 4.99x
PEG - -0.7x 1x -18.93x -1.4x 2.11x 1.3x 2.13x
Capitalization / Revenue 4.02x 3.13x 2.71x 2.11x 2.26x 2.27x 2.19x 2.12x
EV / Revenue 4.4x 3.64x 3.24x 2.72x 2.84x 2.84x 2.73x 2.61x
EV / EBITDA 20.6x 17.5x 15.5x 12.9x 14.1x 14.1x 13.2x 12.4x
EV / EBIT 25.3x 21.3x 18.8x 15.8x 17.6x 17.3x 16.2x 15.3x
EV / FCF 44.9x 52.3x 29x 23.3x 27.7x 25.9x 24.5x 21x
FCF Yield 2.22% 1.91% 3.45% 4.29% 3.6% 3.86% 4.08% 4.76%
Dividend per Share 2 2.8 2.95 3 3.05 3.1 3.137 3.203 3.304
Rate of return 2.2% 2.75% 3.08% 4.07% 3.94% 3.98% 4.07% 4.2%
EPS 2 6.06 3.42 4.23 4.19 3.51 3.85 4.366 4.708
Distribution rate 46.2% 86.3% 70.9% 72.8% 88.3% 81.5% 73.4% 70.2%
Net sales 1 87,088 94,424 92,998 91,354 89,490 89,712 92,889 95,986
EBITDA 1 18,559 19,644 19,511 19,286 18,022 17,996 19,206 20,172
EBIT 1 15,119 16,103 16,053 15,704 14,389 14,707 15,605 16,388
Net income 1 16,905 9,270 11,209 10,884 9,033 9,988 11,225 12,101
Net Debt 1 32,579 47,625 49,390 56,005 51,382 50,876 49,544 46,515
Reference price 2 127.44 107.14 97.51 74.88 78.74 78.71 78.71 78.71
Nbr of stocks (in thousands) 2,750,456 2,759,592 2,588,141 2,571,306 2,572,715 2,572,225 - -
Announcement Date 2/17/22 2/16/23 2/22/24 2/13/25 2/19/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.45x2.82x14.08x3.98% 250B
19.81x2.49x14.83x3.31% 79.36B
17.51x1.8x10.2x3.61% 48.61B
15.05x0.56x10.05x2.56% 39.18B
21.92x3.32x13.43x3.19% 36.38B
39.61x3.38x19.66x0.91% 34.27B
68.15x10.46x43.36x1.12% 29.65B
99.75x1.88x9.36x6.47% 29.35B
11.71x0.38x8.68x2.51% 22.08B
Average 34.88x 3.01x 15.96x 3.07% 63.21B
Weighted average by Cap. 27.22x 2.85x 14.94x 3.45%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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